Here is what you need to know.

China says it won’t negotiate on trade with the US as the latest tariffs bite. Beijing published a white paper on Monday that attacked the “protectionist practices” and “trade bullyism practices of the U.S. administration,” according to state-run Chinese news service Xinhua.

Some US trading partners could pick up the slack if Trump’s trade war with China escalates. Mexico, Vietnam, South Korea, Canada, and Taiwan stand to benefit the most as an alternative US trading partner if its trade war with China escalates further, Macquarie says.

There’s been a big new buyer of US government bonds in 2018. US households have purchased 46% of the government’s total Treasury supply in 2018, according to Morgan Stanley.

Crude oil spikes to an almost 2.5-month high after OPEC holds production. West Texas Intermediate crude oil climbed above $72 a barrel level Monday, hitting its highest level since July 11, after OPEC said on Sunday that it's in no hurry to boost production.

A "perfect storm" is brewing in stocks. "Much of this year's action suggests a rate-driven correction is nearing," Vincent Deluard, a macro strategist at INTL FCStone, said in a recent client note. "The next few weeks could be a perfect storm for the U.S. equity market."

Comcast outbid Rupert Murdoch for Sky. Comcast's $40 billion bid for Sky, Europe' biggest pay-TV company, edged out the Disney-backed bid by Rupert Murdoch's Fox, Reuters reports.

Dell Technologies is revisiting plans for an IPO. Dell is revisiting plans for an initial public offering after several hedge funds have resisted its $21.7 billion cash-and-stock offer to buy back "tracking stock" that is tied to its stake in the software company VMware, Reuters reports, citing people familiar with the matter.

Analysts and experts are zeroing in on where they think Amazon's HQ2 will be. The Washington DC area, and more specifically Oatlands, Virginia, is the likely landing spot for Amazon's HQ2, according to industry insiders.

Stock markets around the world are lower. Hong Kong's Hang Seng (-1.62%) led the losses in Asia and Germany's DAX (-0.43%) trails in Europe. The S&P 500 is set to open down 0.23% near 2,923.

US economic trickles out. Dallas Fed Manufacturing will be released at 10:30 a.m. ET. The US 10-year yield is up 2 basis points at 3.08%.